Vietnam ERP for Retailers Market to Reach $26.06 Mn by 2025 at 17.4% CAGR, Says Allied Market Research
Allied Market Research recently published a report, titled, “Vietnam ERP for Retailers Market by Component (Software, and Service), Application (Customer Management, Demand Forecasting, Inventory Management, Store & Warehouse Operations Management, Purchase & Vendor Management, Employee Management, and Others), Deployment Model (On-premise and Cloud), and Retailer Size (Large Retailers and Small & Business Retailers): Opportunity Analysis and Industry Forecast, 2018–2025”. According to the report, the Vietnam ERP for retailers market was pegged at $7.27 million in 2017 and is projected to garner $26.06 million by 2025, registering a CAGR of 17.4% from 2018 to 2025.
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Rise in need of operational efficiency & transparency in business processes and increase in demand for role-based security have boosted the growth of the Vietnam ERP for retailers market. However, high investment & maintenance costs hinder the market growth. On the contrary, the surge in the adoption of ERP among small and medium retailers and the advent of cloud-based ERP are expected to create lucrative opportunities in the near future.
Service segment to register the fastest growth by 2025:
The service segment is expected to manifest the fastest CAGR of 19.6% during the forecast period. However, the software segment held the largest share in 2017, contributing around three-fourths of the total market, owing to increased demand for ERP software to improve consumer satisfaction and operational efficiency of the business.
Inventory management segment dominates the market:
The inventory management segment accounted for the largest share in 2017, contributing more than one-fifth of the total market as it ensures the constant flow of units in and out of an existing inventory and helps in tracking the shelf life of the product. However, the demand forecasting segment is estimated to manifest the fastest CAGR of 20% during the forecast period. The report includes an in-depth analysis of the other segments such as customer management, store and warehouse operations management, purchase and vendor management, employee management, and others.
Cloud deployment model segment to portray the fastest growth through 2025
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The cloud deployment model segment is projected to portray the fastest CAGR of 20.2% during the study period, owing to its low cost and ability to customize and integrate with a third-party application. However, the on-premise deployment model segment held the largest share in 2017, contributing nearly two-thirds of the total market as it offers greater data security.
Large retailers segment holds lion’s share:
The large retailer's segment dominated the market in terms of revenue in 2017, accounting for more than four-fifths of the total market. However, the small and medium retailers segment is estimated to register the fastest CAGR of 23.1% during the forecast period.
Major market players:
The report provides an extensive analysis of the major market players such as Deskera, Exact, Epicor Software Corporation, Infor, IBM Corporation, Oracle Corporation, Microsoft Corporation, SAP SE, Plex Systems, Inc., and The Sage Group plc.
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Global ERP Software Market is Expected to Reach $ 41.69 Billion, by 2020 -https://www.alliedmarketresearch.com/ERP-market
ERP software streamlines business processes and offers scalability feature. Thus, to fulfill the needs of changing business models, ERP software would gain high acceptance among enterprises. The surge in cloud technology would drive the adoption of cloud-enabled applications. By 2020, cloud-enabled ERP would grow at a CAGR of 10% due to easy access and low-cost factors.
Cloud-based Enterprise Resource Planning (ERP) Market Outlook - 2023 : https://www.alliedmarketresearch.com/cloud-based-enterprise-resource-planning-erp-market
The North American cloud enterprise resource planning market generated the highest revenue in 2016, owing to increase in adoption of cloud-based solutions, presence of a large number of enterprises, and rise in the adoption of IoT.
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